Online Sales Can Create New Income Streams

As the internet matures, so do the attitudes of
people buying more and more online. Many companies
exist that will ship merchandise to nearly any
address specified, without being the same address
as the buyer. This opens the door for selling
opportunities for just about anyone with the
initiative to do a little work online and keep
track of their earnings.

One of the problems with having a retail website,
is you become the buyer, seller and shipper all at
once. When you offer merchandise for sale online
you are opening the door to a global audience and
will need to have an inventory of merchandise that
you offer for sale. Constantly sending out
apologetic emails informing buyers their choice is
either discontinued or on back order will not win
many repeat customers and will eventually leave
you with nothing but a nice looking website.

You can, however get hooked up with wholesalers
who maintain a large inventory of merchandise and
allow you to sell it on your website. When an
order comes in, it goes directly to the wholesaler
who will pack it and ship it as well as handle all
the finances. You make money based on the profit
from the sale of the item. For example, you
advertise a DVD player on your site for $59.99
plus tax plus shipping and handling. A customer
buys it and submits the order. Once payment is
received you arrange for the item to be shipped
direct from the supplier, this is referred to as
drop shipping. If you are getting that DVD player
from the wholesaler for $40, you will be earning
the difference of $19.

Many drop-shippers work with online auction
sellers who simply list the merchandise on their
auction site and the wholesaler takes over the
shipping of the merchandise. For auction
merchandise there is a risk to the seller in that
if a listed item doesn’t sell, the seller is still
responsible for any listing fees for placing the
item on the auction.

Additionally, once an item sells, the seller is
charged a final value fee, which is a percentage
of the price at which the item sold. Consequently,
the seller has to sell the item at a price higher
than the unit cost, plus listing fees plus the
final value fee before they make any money.
Selling straight off your own website may not
elicit as much business, but when the buyer pays
all shipping and handling charges, everything paid
over and above the unit price is yours to keep.

You can also choose to buy small inventories of
merchandise you believe will be in high demand and
list in the item’s description how many are
available. Being honest with potential buyers that
only so many are available may improve your
conversion rate, as well as diminish
disappointment when you run out.

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